Understanding International Marketing Strategies for Business Expansion

INTERNATIONAL
MARKETING

Table of Contents
INTRODUCTION....................................................................................................................3
TASK 1......................................................................................................................................3
P1 Scope and key concepts of international marketing.........................................................3
P2 Rationale for business to market internationally and various routes which can be
adopted...................................................................................................................................4
M1 Opportunities and challenges due to international marketing.........................................5
D1 Critical evaluation of international market including how business adapt their
marketing strategies for various markets...............................................................................6
TASK 2......................................................................................................................................6
P3 Selection process to use when focusing on international market to enter........................6
P4 Explain different market entry strategies with including the advantages and
disadvantages.........................................................................................................................7
M2 Implementation of market evaluation criteria and recommendations.............................8
TASK 3&4.................................................................................................................................8
Covered in PPT......................................................................................................................8
CONCLUSION.........................................................................................................................8
REFERENCES.........................................................................................................................9

INTRODUCTION
International marketing is the implementation of marketing principles by industries in
one or more than one country. According to American Marketing Association (AMA),
international marketing is the multinational process of planning and executing the pricing,
promotion, conception and distribution of ideas, products and services to create exchange
which can be helpful in satisfying or meeting individual or organization objectives (1). Marks
and Spencer is a British multinational retail brand which was founded by Michael Marks and
Thomas Spencer in Leeds in 1884. The company is operating at worldwide level and offers
home products, food products and wide of apparels. The company has also collaborated with
food delivery service company- Ocado through joint venture. The report will also outline
opportunities and challenges to international marketing and how marketing strategies adopted
by business are followed in various global markets. In the next section, the project will
address the selection process which must be considered in international market. Lastly, the
study will highlight market evaluation criteria with few suggestions which can maximise
business performance in global market.
TASK 1
P1 Scope and key concepts of international marketing
Concepts of international marketing
International marketing is the implementation of marketing principles bye industry in
one or more than one country. International marketing is the process of planning and
executing the rates, promotion turn distribution of products and services in the global market.
International marketing is the exchange of commodities across national borders in order to
meet the requirements of customers. International marketing concepts relies on three
components, which are- orientation to foreign trade, sales in foreign market and orientation of
international marketing.
International marketing brings various advantages to an organization and whole
economy. International marketing can be a catalyst of enhancing the living standards of
people and acts as the medium of fast industrial development. It is also responsible to
decrease the price of products and services worldwide which will be helpful in gaining cost
advantage and also supports in making optimum utilization of resources. Through engaging
in international marketing this offers availability of foreign exchange.